Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | May 13, 2024 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2024 | |
Document Transition Report | false | |
Entity File Number | 333-82900 | |
Entity Registrant Name | ThermoGenesis Holdings, Inc. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 94-3018487 | |
Entity Address, Address Line One | 2711 Citrus Road | |
Entity Address, City or Town | Rancho Cordova | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 95742 | |
City Area Code | 916 | |
Local Phone Number | 858-5100 | |
Title of 12(b) Security | Common Stock, $.001 par value | |
Trading Symbol | THMO | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding (in shares) | 7,952,780 | |
Entity Central Index Key | 0000811212 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 1,176,000 | $ 2,000,000 |
Accounts receivable, net of allowance for credit losses of $4,000 ($4,000 at December 31, 2023) | 1,149,000 | 949,000 |
Inventories | 1,246,000 | 1,406,000 |
Prepaid expenses and other current assets | 780,000 | 825,000 |
Total current assets | 4,351,000 | 5,180,000 |
Equipment and leasehold improvements, net | 2,474,000 | 2,586,000 |
Right-of-use operating lease assets, net | 50,000 | 122,000 |
Other assets | 256,000 | 256,000 |
Total assets | 10,087,000 | 11,232,000 |
Accounts payable | 988,000 | 948,000 |
Accrued payroll and related expenses | 398,000 | 376,000 |
Deferred revenue – short-term | 921,000 | 670,000 |
Convertible promissory note – related party | 4,206,000 | 7,278,000 |
Interest payable – related party | 424,000 | 634,000 |
Convertible promissory note, net | 0 | 378,000 |
Other current liabilities | 1,367,000 | 1,478,000 |
Total current liabilities | 8,304,000 | 11,762,000 |
Operating lease obligations – related party – long-term | 2,720,000 | 2,900,000 |
Deferred revenue – long-term | 122,000 | 127,000 |
Other noncurrent liabilities | 28,000 | 27,000 |
Total liabilities | 11,174,000 | 14,816,000 |
Commitments and Contingencies | ||
Preferred stock, $0.001 par value; 2,000,000 shares authorized, none outstanding | 0 | 0 |
Common stock, $0.001 par value; 350,000,000 shares authorized; 7,952,780 issued and outstanding (3,617,886 at December 31, 2023) | 8,000 | 4,000 |
Additional paid in capital | 286,877,000 | 282,383,000 |
Accumulated deficit | (286,024,000) | (284,168,000) |
Accumulated other comprehensive loss | 114,000 | 114,000 |
Total ThermoGenesis Holdings, Inc. stockholders’ equity / (deficit) | 975,000 | (1,667,000) |
Noncontrolling interests | (2,062,000) | (1,917,000) |
Total equity / (deficit) | (1,087,000) | (3,584,000) |
Total liabilities and equity | 10,087,000 | 11,232,000 |
Lease Agreement with Z3 Investment LLC [Member] | ||
Current assets: | ||
Right-of-use operating lease assets, net | 2,956,000 | 3,088,000 |
Operating lease obligations – related party – long-term | $ 2,720,000 | $ 2,900,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Accounts receivable, allowance for doubtful accounts | $ 4,000 | $ 4,000 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 2,000,000 | 2,000,000 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 350,000,000 | 350,000,000 |
Common Stock, Shares, Outstanding (in shares) | 7,952,780 | 3,617,886 |
Common Stock, Shares, Issued (in shares) | 7,952,780 | 3,617,886 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net revenues | $ 2,737,000 | $ 2,572,000 |
Cost of revenues | 1,535,000 | 1,467,000 |
Gross profit | 1,202,000 | 1,105,000 |
Selling, general and administrative | 1,548,000 | 1,844,000 |
Research and development | 211,000 | 306,000 |
Total operating expenses | 1,759,000 | 2,150,000 |
Loss from operations | (557,000) | (1,045,000) |
Other expenses: | ||
Interest expense | (1,452,000) | (3,903,000) |
Loss on retirement of debt | 0 | (239,000) |
Other income (expenses) | (8,000) | (5,000) |
Total other expenses | (1,444,000) | (4,137,000) |
Net loss | (2,001,000) | (5,182,000) |
Loss attributable to noncontrolling interests | (145,000) | (96,000) |
Net loss attributable to common stockholders | (1,856,000) | (5,086,000) |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||
Net loss | (2,001,000) | (5,182,000) |
Other comprehensive loss: | ||
Foreign currency translation adjustments gain (loss) | 0 | (6,000) |
Comprehensive loss | (2,001,000) | (5,188,000) |
Comprehensive loss attributable to noncontrolling interests | (145,000) | (96,000) |
Comprehensive loss attributable to common stockholders | $ (1,856,000) | $ (5,092,000) |
Earnings Per Share [Abstract] | ||
Basic and diluted net loss per common share (in dollars per share) | $ (0.46) | $ (4.07) |
Weighted average common shares outstanding basicand diluted (in shares) | 4,025,787 | 1,249,576 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Equity (Unaudited) - USD ($) | Common Stock [Member] Related Party [Member] | Common Stock [Member] Nonrelated Party [Member] | Common Stock [Member] Related Party Convertible Debt Price Reset [Member] | Common Stock [Member] At The Market Offering Agreement [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] Related Party [Member] | Additional Paid-in Capital [Member] Nonrelated Party [Member] | Additional Paid-in Capital [Member] Related Party Convertible Debt Price Reset [Member] | Additional Paid-in Capital [Member] At The Market Offering Agreement [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] Related Party [Member] | Retained Earnings [Member] Nonrelated Party [Member] | Retained Earnings [Member] Related Party Convertible Debt Price Reset [Member] | Retained Earnings [Member] At The Market Offering Agreement [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] Related Party [Member] | AOCI Attributable to Parent [Member] Nonrelated Party [Member] | AOCI Attributable to Parent [Member] Related Party Convertible Debt Price Reset [Member] | AOCI Attributable to Parent [Member] At The Market Offering Agreement [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] Related Party [Member] | Noncontrolling Interest [Member] Nonrelated Party [Member] | Noncontrolling Interest [Member] Related Party Convertible Debt Price Reset [Member] | Noncontrolling Interest [Member] At The Market Offering Agreement [Member] | Noncontrolling Interest [Member] | Related Party [Member] | Nonrelated Party [Member] | Related Party Convertible Debt Price Reset [Member] | At The Market Offering Agreement [Member] | Total |
Balance (in shares) at Dec. 31, 2022 | 1,037,138 | |||||||||||||||||||||||||||||
Balance at Dec. 31, 2022 | $ 1,000 | $ 270,377,000 | $ (266,193,000) | $ 111,000 | $ (973,000) | $ 3,323,000 | ||||||||||||||||||||||||
Stock-based compensation expense | 0 | 10,000 | 0 | 0 | 0 | 10,000 | ||||||||||||||||||||||||
Related party convertible note price reset | $ 0 | 0 | $ 3,160,000 | 43,000 | $ 0 | 0 | $ 0 | 0 | $ 0 | 0 | $ 43,000 | $ 3,160,000 | $ 43,000 | |||||||||||||||||
Conversion of note payable to common stock (in shares) | 215,000 | |||||||||||||||||||||||||||||
Conversion of note payable to common stock | $ 1,000 | 602,000 | 0 | 0 | 0 | $ 603,000 | ||||||||||||||||||||||||
Issuance of common stock via at-the- market offering, net (in shares) | 125,000 | |||||||||||||||||||||||||||||
Issuance of common stock via at-the- market offering, net | $ 0 | 2,640,000 | 0 | 0 | 0 | 2,640,000 | ||||||||||||||||||||||||
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest | 0 | 0 | (5,086,000) | 0 | (96,000) | $ (5,182,000) | ||||||||||||||||||||||||
Adjustments to Additional Paid in Capital, Debt Discount | $ 0 | $ 0 | $ 3,160,000 | 43,000 | $ 0 | 0 | $ 0 | 0 | $ 0 | 0 | 43,000 | 3,160,000 | 43,000 | |||||||||||||||||
Sale of common stock and warrants, net (in shares) | 125,000 | |||||||||||||||||||||||||||||
Sale of common stock and warrants, net | $ 0 | 2,640,000 | 0 | 0 | 0 | $ 2,640,000 | ||||||||||||||||||||||||
Exercise of warrants (in shares) | 158,731 | |||||||||||||||||||||||||||||
Exercise of warrants | 0 | 0 | 0 | 0 | $ 421,000 | |||||||||||||||||||||||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | $ 0 | 0 | 0 | (6,000) | 0 | (6,000) | ||||||||||||||||||||||||
Balance (in shares) at Mar. 31, 2023 | 1,535,869 | |||||||||||||||||||||||||||||
Balance at Mar. 31, 2023 | $ 2,000 | 277,253,000 | (271,279,000) | 105,000 | (1,069,000) | 5,012,000 | ||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2023 | 3,617,886 | |||||||||||||||||||||||||||||
Balance at Dec. 31, 2023 | $ 4,000 | 282,383,000 | (284,168,000) | 114,000 | (1,917,000) | (3,584,000) | ||||||||||||||||||||||||
Stock-based compensation expense | 0 | 10,000 | 0 | 0 | 0 | 10,000 | ||||||||||||||||||||||||
Related party convertible note price reset | $ 3,000 | $ 0 | $ 2,786,000 | $ 37,000 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 2,789,000 | 37,000 | 2,789,000 | |||||||||||||||||
Conversion of note payable to common stock (in shares) | 4,113,158 | |||||||||||||||||||||||||||||
Conversion of note payable to common stock | $ 1,000 | 1,562,000 | 0 | 0 | 0 | 1,563,000 | ||||||||||||||||||||||||
Issuance of common stock via at-the- market offering, net (in shares) | 221,736 | 221,736 | ||||||||||||||||||||||||||||
Issuance of common stock via at-the- market offering, net | $ 0 | $ 99,000 | $ 0 | $ 0 | $ 0 | $ 99,000 | ||||||||||||||||||||||||
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest | $ 0 | 0 | (1,856,000) | 0 | (145,000) | (2,001,000) | ||||||||||||||||||||||||
Adjustments to Additional Paid in Capital, Debt Discount | $ 3,000 | $ 0 | $ 2,786,000 | $ 37,000 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 2,789,000 | $ 37,000 | $ 2,789,000 | |||||||||||||||||
Sale of common stock and warrants, net (in shares) | 221,736 | 221,736 | ||||||||||||||||||||||||||||
Sale of common stock and warrants, net | $ 0 | $ 99,000 | $ 0 | $ 0 | $ 0 | $ 99,000 | ||||||||||||||||||||||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 0 | |||||||||||||||||||||||||||||
Balance (in shares) at Mar. 31, 2024 | 7,952,780 | |||||||||||||||||||||||||||||
Balance at Mar. 31, 2024 | $ 8,000 | $ 286,877,000 | $ (286,024,000) | $ 114,000 | $ (2,062,000) | $ (1,087,000) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net Cash Provided by (Used in) Operating Activities [Abstract] | ||
Net loss | $ (2,001,000) | $ (5,182,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 334,000 | 267,000 |
Stock based compensation expense | 10,000 | 10,000 |
Amortization of debt discount/premium, net | 1,052,000 | 3,472,000 |
Loss on retirement of debt | 0 | 239,000 |
Reserve for excess and slow-moving inventories | 27,000 | 70,000 |
Accounts receivable | (199,000) | 271,000 |
Inventories | 133,000 | 58,000 |
Prepaid expenses and other assets | 46,000 | 778,000 |
Accounts payable | 41,000 | 748,000 |
Interest payable – related party | 75,000 | (1,103,000) |
Accrued payroll and related expenses | 22,000 | 45,000 |
Deferred revenue – short-term | 351,000 | (53,000) |
Other current liabilities | (211,000) | 53,000 |
Long-term deferred revenue and other noncurrent liabilities | (185,000) | (288,000) |
Net cash used in operating activities | (505,000) | (615,000) |
Reserve for excess and slow-moving inventories | 27,000 | 70,000 |
Net Cash Provided by (Used in) Investing Activities [Abstract] | ||
Capital expenditures | (20,000) | (771,000) |
Net cash used in investing activities | (20,000) | (771,000) |
Net Cash Provided by (Used in) Financing Activities [Abstract] | ||
Proceeds from sale of common stock, net | 99,000 | 2,640,000 |
Payment on convertible promissory note | 398,000 | |
Proceeds from exercise of warrants and pre-funded warrants | 0 | 421,000 |
Net cash provided by financing activities | (299,000) | 3,061,000 |
Net increase (decrease) in cash and cash equivalents | (824,000) | 1,675,000 |
Cash and cash equivalents at beginning of period | 2,000,000 | 4,177,000 |
Cash and cash equivalents at end of period | 1,176,000 | 5,852,000 |
Supplemental Cash Flow Information [Abstract] | ||
Cash paid for interest | 102,000 | 140,000 |
Cash paid for related party interest | 317,000 | 1,492,000 |
Convertible note price reset | 43,000 | |
Related Party Convertible Debt Price Reset [Member] | ||
Supplemental Cash Flow Information [Abstract] | ||
Convertible note price reset | 2,789,000 | 3,160,000 |
Nonrelated Party [Member] | ||
Supplemental Cash Flow Information [Abstract] | ||
Convertible note price reset | 37,000 | 43,000 |
Promissory note converted to common stock | 0 | 603,000 |
Related Party [Member] | ||
Supplemental Cash Flow Information [Abstract] | ||
Convertible note price reset | 2,789,000 | |
Promissory note converted to common stock | 1,563,000 | 0 |
January 2023 Convertible Note [Member] | ||
Supplemental Cash Flow Information [Abstract] | ||
Fair value of amended convertible note issued in connection with the extinguishment of original convertible note | $ 0 | $ 1,239,000 |
Note 1 - Description of Busines
Note 1 - Description of Business | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1. Description of Business Overview ThermoGenesis Holdings, Inc. (“ThermoGenesis Holdings,” the “Company,” “we,” “our,” “us”) develops and commercializes a range of automated technologies for cell-banking, cell-processing, and cell-based therapeutics. Since the 1990’s, ThermoGenesis Holdings has been a pioneer in, and a leading provider of automated systems that isolate, purify and cryogenically store units of hematopoietic stem and progenitor cells for the cord blood banking industry. The Company was founded in 1986 and is incorporated in the State of Delaware and headquartered in Rancho Cordova, CA. Our common stock is traded on the Nasdaq Capital Market exchange under the ticker symbol “THMO”. Medical Device Products for Automated Cell Processing The Company provides the AutoXpress® and BioArchive® platforms for automated clinical bio-banking, PXP® platform for point-of-care cell-based therapies and X-Series® products for cell processing services. All product lines are reporting as a single reporting segment in the financial statements. CDMO Business The Company is expanding its business to include contract development and manufacturing services for cell and cell-based gene therapies. The Company is in the process of building out its capabilities to become a world-class Contract Development and Manufacturing Organization (“CDMO”) for cell and cell-based gene therapies. The Company opened a new facility in the Sacramento metro area, containing a total of twelve, class-7, ReadyStart cGMP Suites available for lease by early-stage life science and cell gene therapy companies. The ReadyStart Suites are located in a 35,500+ square foot cGMP facility that will meet the highest scientific, quality, and regulatory requirements. The CDMO facility was completed in October of 2023. |
Note 2 - Going Concern
Note 2 - Going Concern | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | 2. Going Concern The Company has incurred historical losses from operations and expects to continue to incur operating losses in the near future. The Company will need to raise additional capital to grow its business, fund operating expenses and make interest payments. The Company’s ability to fund its liquidity needs is subject to various risks, many of which are beyond its control. The Company will seek additional funding through debt borrowings, sales of debt or equity securities or strategic partnerships. The Company cannot guarantee that such funding will be available on a timely basis, in needed quantities or on terms favorable to the Company, if at all. These factors and other indicators raise substantial doubt about the Company’s ability to continue as a going concern within one year from the filing date of this report. The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 3. Summary of Significant Accounting Polices There have been no material changes in the Company’s significant accounting policies to those disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such Securities and Exchange Commission (“SEC”) rules and regulations and accounting principles applicable for interim periods. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Events subsequent to the balance sheet date have been evaluated for inclusion in the accompanying condensed consolidated financial statements through the date of issuance. Operating results for the three months ended March 31, 2024 are not necessarily indicative of the results that may be expected for the Company’s fiscal year ending December 31, 2024. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in ThermoGenesis Holdings’ Annual Report on Form 10-K for the year ended December 31, 2023. Principles of Consolidation The consolidated financial statements include the accounts of ThermoGenesis Holdings and its wholly-owned subsidiaries, ThermoGenesis Corp. and TotipotentRX Cell Therapy, Pvt. Ltd and ThermoGenesis Corp’s majority-owned subsidiary, CARTXpress Bio, Inc. (“CARTXpress Bio”). All significant intercompany accounts and transactions have been eliminated upon consolidation. The 20% ownership interest of CARTXpress Bio that is not owned by ThermoGenesis Holdings is accounted for as a non-controlling interest as the Company has an 80% ownership interest in CARTXpress Bio. Earnings or losses attributable to other stockholders of a consolidated affiliated company are classified separately as "non-controlling interest" in the Company's consolidated statements of operations. Net loss attributable to non-controlling interests reflects only its share of the after-tax earnings or losses of an affiliated company. The Company's condensed consolidated balance sheets reflect non-controlling interests within the equity section. Recently Issued Accounting Standards In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which is intended to enhance the transparency and decision usefulness of income tax disclosures. Notably, the ASU requires entities to disclose specific categories in the effective tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold, as well as disclosures of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 on a prospective basis. Retrospective application to each period presented in the financial statements is permitted. We are currently evaluating the impact of this standard on our consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which requires all public entities, including those that have a single reportable segment, to provide enhanced disclosures primarily about significant segment expenses. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The new guidance is required to be applied on a retrospective basis, with all required disclosures to be made for all prior periods presented in the financial statements. The segment expense categories and amounts disclosed in prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. We are currently evaluating the impact of this standard on our consolidated financial statements. In October 2023, the FASB issued ASU 2023-06, “Disclosure Improvements—Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative.” This ASU modifies the disclosure or presentation requirements of a variety of Topics in the Codification by aligning them with the SEC’s regulations. The amendments to the various Topics should be applied prospectively, and the effective date for the Company for each amendment will be determined based on the effective date of the SEC’s removal of the related disclosure from Regulation S-X or Regulation S-K. If the SEC has not removed the applicable requirement by June 30, 2027, then the related amendment in ASU 2023-06 will be removed from the Codification and will not become effective. Early adoption of this ASU is prohibited. We are currently evaluating the new ASU to determine if it will have an impact on the disclosures or presentation in our consolidated financial statements. |
Note - 4 Related Party Transact
Note - 4 Related Party Transactions | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 4. Related Party Transactions Convertible Promissory Note and Revolving Credit Agreement In March 2017, ThermoGenesis Holdings entered into a Credit Agreement with Boyalife Group (USA), Inc. (the “Lender”), which is owned and controlled by the Company’s Chief Executive Officer and Chairman of our Board of Directors. The Credit Agreement, as amended, grants the Company the right to borrow up to $10,000,000 (the “Loan”) at any time prior to the maturity date. On January 5, 2024, the Company entered into Amendment No. 3 (the "Note Amendment”) to its Second Amended and Restated Convertible Promissory Note with Boyalife Group Inc. (the "Note”), and Amendment No. 4 (the "Credit Agreement Amendment”) to its First Amended and Restated Revolving Credit Agreement with Boyalife Group Inc. (the "Credit Agreement”). The Note Amendment extended the maturity date of the Note from December 31, 2023 to December 31, 2024 (the “Maturity Date”), and provided that beginning January 1, 2024, accrued and unpaid interest of approximately $634,000 was due and payable on or before July 1 and December 31 of each year. Accrued and unpaid interest as of December 31, 2023, (the "December 2023 Capitalized Amount”) is to be paid in equal monthly installments of approximately $106,000 over the first six months of 2024. Any unpaid portion of the December 2023 Capitalized Amount shall bear interest at an annual rate of twenty-two percent (22%), and accrued and unpaid interest on the December 2023 Capitalized Amount shall be due and payable on July 1, 2024. The Credit Agreement Amendment updated the defined term "Termination Date” in the Credit Agreement to December 31, 2024. The Company performed a debt extinguishment vs. modification analysis on the Note Amendment and determined that it would be considered an extinguishment, due to an increase of more than 10% to the value of the embedded conversion option. However, no gain or loss was recorded in the condensed consolidated statements of operations for the quarter ended March 31, 2024 as it was determined that the fair value of the Note Amendment and accrued interest was $7,912,000 both before and after the extension. On March 15, 2024, the Company received a conversion notice from the Lender to convert $1,278,000 of the outstanding principal and $285,000 of the 2024 outstanding accrued interest for a total of $1,563,000. As of March 31, 2024, the outstanding principal and accrued interest of the Note was approximately $6,424,000. The Credit Agreement Amendment and the Note Amendment, provide that the principal and all accrued and unpaid interest under the Loan will be due and payable on the Maturity Date of December 31, 2024. The Loan bears interest at 22% per annum, simple interest. The Company has five business days after the Lender demands payment to pay the interest due before the Loan is considered in default. The Loan can be prepaid in whole or in part by the Company at any time without penalty. The following summarizes the Note: Maturity Date Stated Interest Rate Conversion Price Face Value Debt Discount Carrying Value March 31, 2024 12/31/24 22 % $ 0.38 $ 6,000,000 $ (1,794,000 ) $ 4,206,000 December 31, 2023 12/31/23 22 % $ 0.79 $ 7,278,000 $ - $ 7,278,000 The Note includes a down-round anti-dilution provision that lowers its conversion price if the Company sells shares of common stock or issues convertible debt at a lower price per share. In 2024, the down-round provision was triggered, as noted below: For the three months ended March 31, 2024, when the conversion price of the Note was $0.79 per share, under an At The Market Offering Agreement with H.C. Wainwright & Co., LLC (“Wainwright”), pursuant to which the Company can offer and sell, from time to time, shares of its common stock, $0.001 par value, the Company sold shares of its common stock through multiple transactions with an average selling price of $0.45, resulting in a triggering event lowering the conversion price of the Note to $0.38. The triggering event created an incremental value of approximately $2,789,000 which was treated as a discount to the carrying amount of the Note and will be amortized over its remaining term. A Black-Scholes pricing model was utilized to determine the change in the before and after incremental value of the conversion option at each triggering event, with the following inputs: January 2024 Conversion price before $ 0.79 Conversion price after $ 0.38 Term (years) 0.94 Volatility 122.7 % Dividend rate 0 % Risk free rate 4.38 % The Company amortized $995,000 and $3,604,000 of debt discount related to triggering events for the Note to interest expense for the three months ended March 31, 2024 and 2023, respectively. In addition to the amortization, the Company also recorded interest expense related to the Note of $392,000 and $389,000 for the three months ended March 31, 2024 and 2023 respectively. The interest payable balance for the Note was $424,000 and $634,000 as of March 31, 2024 and December 31, 2023, respectively. |
Note 5 - Related Party Lease
Note 5 - Related Party Lease | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 5. Related Party Lease Z3 Investment On March 24, 2022, the Company entered into a five-year five-year Operating Lease Operating lease assets and liabilities are recognized at the lease commencement date. Operating lease liabilities represent the present value of lease payments not yet paid. Operating lease assets represent our right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepayments or accrued lease payments, initial direct costs, lease incentives, and impairment of operating lease assets. To determine the present value of lease payments not yet paid, we use the Company’s cost of capital based on existing debt instruments. We recognize the expense for this lease on a straight-line basis over the lease term. The following summarizes the Company’s operating lease: March 31, 2024 December 31, 2023 Right-of-use operating lease assets – related party, net $ 2,956,000 $ 3,088,000 Current lease liability (included in other current liabilities) 641,000 595,000 Non-current lease liability – related party 2,720,000 2,900,000 Weighted average remaining lease term 3.5 3.8 Discount rate 22 % 22 % Maturities of lease liabilities by year for our operating lease are as follows: 2024 (Remaining) $ 983,000 2025 1,359,000 2026 1,428,000 2027 1,133,000 Thereafter - Total lease payments $ 4,903,000 Less: imputed interest (1,542,000 ) Present value of operating lease liabilities $ 3,361,000 Statement of Cash Flows Cash paid for amounts included in the measurement of operating lease liabilities was $324,000 and $311,000 for the three months ended March 31, 2024 and 2023, respectively. |
Note 6 - Convertible Promissory
Note 6 - Convertible Promissory Note | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 6. Convertible Promissory Note July 2019 Note On July 23, 2019, the Company entered into a private placement with Orbrex (USA) Co. Limited (“Orbrex”), pursuant to which the Company issued and sold to Orbrex an unsecured convertible promissory note in the original principal amount of $1,000,000 (the “July 2019 Note”). The July 2019 Note, as amended, bared an interest rate of twenty-four percent (24%) per annum which was payable quarterly in arrears. On January 31, 2023, the Company entered into Amendment No. 3 to the July 2019 Note which extended the maturity date from January 31, 2023 to July 31, 2023 and changed the fixed conversion price to $2.87 per share. On the July 2023 maturity date, the Company entered into an Amendment No. 4 to the July 2019 Note, which extended the maturity date of the July 2019 Note to January 31, 2024 and changed the fixed conversion price to $1.07 per share. The Company performed a debt extinguishment vs. modification analysis on the Amendment No. 3 to the July 2019 Note and determined that the extension would be considered an extinguishment, due to an increase of more than 10% to the value of the embedded conversion option. The Company determined that the fair value of the July 2019 Note after the amendment was $1,239,000 representing a $239,000 increase in its fair value. The increase will be recorded as a premium to the July 2019 Note and amortized over the remaining term. During the three months ended March 31, 2023, the holder of the July 2019 Note converted $603,000 of the Note for 215,000 shares. The July 2019 Note matured on January 31, 2024, at which time the Company paid the outstanding balance of $398,000. The following summarizes the July 2019 Note: Maturity Date Stated Interest Rate Conversion Price Face Value Debt Discount Carrying Value December 31, 2023 1/31/24 24 % $ 0.79 $ 397,000 $ (19,000 ) $ 378,000 The Note includes a down-round anti-dilution provision that lowers its conversion price if the Company sells shares of common stock or issues convertible debt at a lower price per share. In 2024, the anti-dilution provision was triggered, as noted below: In January 2024, through multiple transactions under the At The Market Agreement with Wainwright, the Company sold shares of its common stock with an average selling price of $0.45, resulting in a triggering event lowering the conversion price of the Note to $0.38. The triggering event created an incremental value of approximately $37,000 which was treated as a discount to the carrying amount of the Note and will be amortized over its remaining term. A Black-Scholes pricing model was utilized to determine the change in the before and after incremental value of the conversion option at each triggering event, with the following inputs: January 2024 Conversion price before $ 0.79 Conversion price after $ 0.38 Term (years) 0.02 Volatility 83.9 % Dividend rate 0 % Risk free rate 4.38 % The Company recorded amortization expense related to triggering events for the July 2019 Note of $72,000 and $41,000 for the three months ended March 31, 2024 and 2023, respectively. Additionally, an amortization expense of $15,000 and $174,000 related to a debt premium for the July 2019 Note was recorded for the three months ended March 31, 2024 and 2023. Interest expense related to the July 2019 Note was $8,000 and $42,000 for the three months ended March 31, 2024 and 2023. When the July 2019 Note matured on January 31, 2024, the Company paid approximately $102,000 for the accrued interest payable. |
Note 7 - Stockholders' Equity
Note 7 - Stockholders' Equity | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 7. Stockholders Equity Common Stock On March 15, 2023, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with an accredited investor (the “Investor”) pursuant to which the Company agreed to issue and sell to the Investor in a private placement (the “Offering”) (i) 125,000 shares of its common stock, $0.001 par value (the “Common Shares”), (ii) 946,429 pre-funded warrants to purchase Common Shares at a purchase price of $2.80, and (iii) warrants to purchase up to an aggregate 1,071,429 Common Shares were issued (the “Underlying Shares”). The warrants have an exercise price of $2.65 per share and are exercisable immediately upon issuance and expire five In connection with the Offering, the Company entered into a Warrant Amendment Agreement (the "Warrant Amendment Agreement”), dated March 15, 2023, with the Investor, whereby the Company agreed to amend existing warrants, held by the Investor, to purchase up to an aggregate of 158,731 shares of common stock under the Warrant Amendment Agreement that were previously issued in October 2022. These warrants had an exercise price of $6.30 per share and pursuant to the Warrant Amendment Agreement, have been amended to reduce the exercise price to $2.65 per share effective upon the closing of the Offering. During the quarter ended March 31, 2023, 158,731 common warrants were exercised. The Company received approximately $421,000 from the exercises of the warrants. The warrant repricing resulted in an immediate and incremental increase of approximately $50,000 in the estimated fair value of the common warrants issued in the Company’s October 2022 public offering. The common warrants were valued on the date of the warrant repricing using the Black-Scholes option pricing model based on the following assumptions: March 2023 Conversion price before $ 6.30 Conversion price after $ 2.65 Term (years) 4.9 Volatility 123 % Dividend rate 0 % Risk free rate 4.20 % On November 22, 2023, the Company entered into an At The Market Offering Agreement (the "Offering Agreement”) with Wainwright with respect to an at-the-market offering program under which the Company may offer and sell, from time to time, shares of its common stock, $0.001 par value having an aggregate offering price of up to $1,288,000 through Wainwright as its sales agent. The shares of Common Stock to be offered and sold under the Offering Agreement, will be offered and sold pursuant to the Company’s shelf registration statement. For the quarter ended March 31, 2024, the Company sold a total of 221,736 shares of common stock under the Offering Agreement at an average selling price of $0.45 per share, resulting in net proceeds of approximately $99,000. Nasdaq’s listing standards provide that a company may be delisted if the bid price of its stock drops below $1.00 for a period of 30 consecutive business days. On January 8, 2024, we received written notice from the Nasdaq Listing Qualifications Department notifying the Company that it was not in compliance with the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market, due to the bid price of the Company’s common stock closing below the minimum $1.00 per share for the thirty (30) consecutive business days prior to the date of the Notification Letter. In accordance with listing rules, the Company was afforded 180 days, or until July 8, 2024, to regain compliance. Net Loss Per Share Net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding. For the purpose of calculating basic net loss per share, the additional shares of common stock that are issuable upon exercise of the pre-funded warrants have been included since the shares are issuable for a negligible consideration and have no vesting or other contingencies associated with them. All pre-funded warrants previously issued have been exercised and none are outstanding. The calculation of the basic and diluted earnings per share is the same for all periods presented, as the effect of the potential common stock equivalents noted below is anti-dilutive due to the Company’s net loss position for all periods presented. Anti-dilutive securities consisted of the following at March 31: 2024 2023 Common stock equivalents of convertible promissory note and accrued interest 16,906,190 2,946,525 Warrants 1,238,869 1,253,387 Stock options 6,097 6,400 Total 18,151,156 4,206,312 Warrants A summary of warrant activity for the three months ended March 31, 2024 is as follows: Number of Shares Weighted-Average Exercise Price Per Share Weighted- Average Remaining Contract Term Balance at December 31, 2023 1,238,869 $ 3.14 4.57 Warrants granted - Pre-funded warrants granted - Warrants exercised - Exercisable and Outstanding at March 31, 2024 1,238,869 $ 3.14 4.32 |
Note 8 - Revenue
Note 8 - Revenue | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 8. Revenue The following table presents net sales by geographic areas for the three months ended March 31: 2024 2023 United States $ 2,064,000 $ 1,372,000 Singapore 56,000 404,000 Other 617,000 796,000 Total $ 2,737,000 $ 2,572,000 The following tables summarize the revenues by product line and type: Three Months Ended March 31, 2024 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 1,900,000 $ 64,000 $ - $ 1,964,000 BioArchive 188,000 334,000 - 522,000 CAR-TXpress 20,000 26,000 100,000 146,000 Other 20,000 - 85,000 105,000 Total $ 2,128,000 $ 424,000 $ 185,000 $ 2,737,000 Three Months Ended March 31, 2023 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 1,484,000 $ 55,000 $ - $ 1,539,000 BioArchive 298,000 359,000 - 657,000 CAR-TXpress 35,000 40,000 71,000 146,000 Other 224,000 - 6,000 230,000 Total $ 2,041,000 $ 454,000 $ 77,000 $ 2,572,000 Contract Balances Generally, all sales are contract sales (with either an underlying contract or purchase order). The Company does not have any material contract assets. When invoicing occurs prior to revenue recognition, a contract liability is recorded (as deferred revenue on the consolidated balance sheet). The Company recognized revenues of $365,000 and $362,000 that were included in the beginning balance of deferred revenue for the three months ended March 31, 2024 and 2023, respectively. Short-term deferred revenues were $921,000 and $670,000 at March 31, 2024 and December 31, 2023, respectively. Long-term deferred revenues were $122,000 and $127,000 at March 31, 2024 and December 31, 2023, respectively. Backlog of Remaining Customer Performance Obligations The following table represents revenue expected to be recognized in the future from the backlog of performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period: Remainder of 2024 2025 2026 2027 2028 and beyond Total Service revenue $ 1,060,000 $ 544,000 $ 125,000 $ - $ - $ 1,729,000 Exclusivity fee 167,000 - - - - 167,000 Other 10,000 13,000 13,000 13,000 80,000 129,000 Total $ 1,237,000 $ 557,000 $ 138,000 $ 13,000 $ 80,000 $ 2,025,000 |
Note 9 - Concentrations
Note 9 - Concentrations | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 9. Concentrations The Company had certain customers whose revenue individually represented 10% or more of the Company’s total revenue, or whose accounts receivable balances individually represented 10% or more of the Company’s total accounts receivable as follows: Accounts Receivable March 31, 2024 December 31, 2023 Customer 1 43% 2% Customer 2 14% 11% Customer 3 14% 1% Three Months Ended March 31, Revenues 2024 2023 Customer 1 49% 33% Customer 2 2% 16% The Company utilizes contract manufacturers to produce AXP disposables. For the three months ended March 31, 2024, the Company obtained all of its AXP disposables from one supplier. |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 10. Commitments and Contingencies The Company, entered into a Manufacturing and Supply Amending Agreement #2 with CBR Systems, Inc. (“CBR”) with an effective date of July 13, 2020 (the “Amendment”). The Amendment modified the Manufacturing and Supply Agreement entered into on May 15, 2017 and Amendment #1 dated March 16, 2020 by the Company and CBR. The Amendment, among other things, revised the amounts of certain products to be purchased, pricing of those products and removal of the safety stock requirement. In addition, the Amendment updated the financial requirement to exclude convertible debt from the definition of short-term debt under events or conditions that constitute a default. The Amendment states that the Company’s cash balance and short-term investments net of non-convertible debt and borrowed funds that are payable within one year must be greater than $1,000,000 at any month end. The Company was in compliance with this agreement as of March 31, 2024. In the normal course of operations, the Company may have disagreements or disputes with customers, employees or vendors. Such potential disputes are seen by management as a normal part of business. As of March 31, 2024, management believes any liability that may ultimately result from the resolution of these matters will not have a material adverse effect on the Company’s consolidated financial position, operating results or cash flows. |
Note 11 - Subsequent Events
Note 11 - Subsequent Events | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 11. Subsequent Events On April 19, 2024, the Company received a notice (the “Nasdaq Notice”) from Nasdaq that the Company does not presently comply with Nasdaq’s Listing Rule 5550(b)(1) that requires the Company to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing. Additionally, as of the date of this report, the Company does not meet the alternatives of market value of listed securities or net income from continuing operations under Nasdaq Listing Rules. The Nasdaq Notice does not have any immediate effect on the listing of the Company’s common stock on the Nasdaq Capital Market and the Company has 45 calendar days from the date of the Nasdaq Notice to submit a plan to Nasdaq to regain compliance with Nasdaq’s continued listing rules. If the Company’s plan is accepted, Nasdaq can grant the Company an extension of up to 180 calendar days from the date of the Nasdaq Notice for the Company to evidence compliance with its plan and with the relevant Nasdaq continued listing rules. In connection with the Company’s plan, once submitted, Nasdaq staff will consider such things as the likelihood that the plan will result in compliance with Nasdaq’s continued listing criteria, the Company’s past compliance history, the reasons for the Company’s current non-compliance, other corporate events that may occur during staff’s review period, the Company’s overall financial condition, and the Company’s public disclosures. If, in the staff’s consideration of the Company’s plan, the staff were to determine that the Company would not be able to cure the deficiency, then Nasdaq would provide notice that the Company’s common stock would be subject to delisting. Upon such a notice, the Company would have the right to appeal that determination and the Company’s common stock would continue to remain listed on the Nasdaq Capital Market until the completion of the appeal process. The Company is considering various actions that it may take in response to the Nasdaq Notice in order to provide to Nasdaq the required plan to regain compliance with the continued listing requirements, but the Company has not currently completed its internal analysis regarding the items to be included in its plan to be submitted to Nasdaq staff. |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | Other Information (a) None. (b) None. (c) During the three months ended March 31, 2024, none |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such Securities and Exchange Commission (“SEC”) rules and regulations and accounting principles applicable for interim periods. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Events subsequent to the balance sheet date have been evaluated for inclusion in the accompanying condensed consolidated financial statements through the date of issuance. Operating results for the three months ended March 31, 2024 are not necessarily indicative of the results that may be expected for the Company’s fiscal year ending December 31, 2024. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in ThermoGenesis Holdings’ Annual Report on Form 10-K for the year ended December 31, 2023. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of ThermoGenesis Holdings and its wholly-owned subsidiaries, ThermoGenesis Corp. and TotipotentRX Cell Therapy, Pvt. Ltd and ThermoGenesis Corp’s majority-owned subsidiary, CARTXpress Bio, Inc. (“CARTXpress Bio”). All significant intercompany accounts and transactions have been eliminated upon consolidation. The 20% ownership interest of CARTXpress Bio that is not owned by ThermoGenesis Holdings is accounted for as a non-controlling interest as the Company has an 80% ownership interest in CARTXpress Bio. Earnings or losses attributable to other stockholders of a consolidated affiliated company are classified separately as "non-controlling interest" in the Company's consolidated statements of operations. Net loss attributable to non-controlling interests reflects only its share of the after-tax earnings or losses of an affiliated company. The Company's condensed consolidated balance sheets reflect non-controlling interests within the equity section. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which is intended to enhance the transparency and decision usefulness of income tax disclosures. Notably, the ASU requires entities to disclose specific categories in the effective tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold, as well as disclosures of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 on a prospective basis. Retrospective application to each period presented in the financial statements is permitted. We are currently evaluating the impact of this standard on our consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which requires all public entities, including those that have a single reportable segment, to provide enhanced disclosures primarily about significant segment expenses. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The new guidance is required to be applied on a retrospective basis, with all required disclosures to be made for all prior periods presented in the financial statements. The segment expense categories and amounts disclosed in prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. We are currently evaluating the impact of this standard on our consolidated financial statements. In October 2023, the FASB issued ASU 2023-06, “Disclosure Improvements—Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative.” This ASU modifies the disclosure or presentation requirements of a variety of Topics in the Codification by aligning them with the SEC’s regulations. The amendments to the various Topics should be applied prospectively, and the effective date for the Company for each amendment will be determined based on the effective date of the SEC’s removal of the related disclosure from Regulation S-X or Regulation S-K. If the SEC has not removed the applicable requirement by June 30, 2027, then the related amendment in ASU 2023-06 will be removed from the Codification and will not become effective. Early adoption of this ASU is prohibited. We are currently evaluating the new ASU to determine if it will have an impact on the disclosures or presentation in our consolidated financial statements. |
Note - 4 Related Party Transa_2
Note - 4 Related Party Transactions (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Maturity Date Stated Interest Rate Conversion Price Face Value Debt Discount Carrying Value March 31, 2024 12/31/24 22 % $ 0.38 $ 6,000,000 $ (1,794,000 ) $ 4,206,000 December 31, 2023 12/31/23 22 % $ 0.79 $ 7,278,000 $ - $ 7,278,000 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | January 2024 Conversion price before $ 0.79 Conversion price after $ 0.38 Term (years) 0.94 Volatility 122.7 % Dividend rate 0 % Risk free rate 4.38 % |
Note 5 - Related Party Lease (T
Note 5 - Related Party Lease (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Lease, Cost [Table Text Block] | March 31, 2024 December 31, 2023 Right-of-use operating lease assets – related party, net $ 2,956,000 $ 3,088,000 Current lease liability (included in other current liabilities) 641,000 595,000 Non-current lease liability – related party 2,720,000 2,900,000 Weighted average remaining lease term 3.5 3.8 Discount rate 22 % 22 % |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | 2024 (Remaining) $ 983,000 2025 1,359,000 2026 1,428,000 2027 1,133,000 Thereafter - Total lease payments $ 4,903,000 Less: imputed interest (1,542,000 ) Present value of operating lease liabilities $ 3,361,000 |
Note 6 - Convertible Promisso_2
Note 6 - Convertible Promissory Note (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Convertible Debt [Table Text Block] | Maturity Date Stated Interest Rate Conversion Price Face Value Debt Discount Carrying Value December 31, 2023 1/31/24 24 % $ 0.79 $ 397,000 $ (19,000 ) $ 378,000 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | January 2024 Conversion price before $ 0.79 Conversion price after $ 0.38 Term (years) 0.94 Volatility 122.7 % Dividend rate 0 % Risk free rate 4.38 % |
Convertible Debt [Member] | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | January 2024 Conversion price before $ 0.79 Conversion price after $ 0.38 Term (years) 0.02 Volatility 83.9 % Dividend rate 0 % Risk free rate 4.38 % |
Note 7 - Stockholders' Equity (
Note 7 - Stockholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | January 2024 Conversion price before $ 0.79 Conversion price after $ 0.38 Term (years) 0.94 Volatility 122.7 % Dividend rate 0 % Risk free rate 4.38 % |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | 2024 2023 Common stock equivalents of convertible promissory note and accrued interest 16,906,190 2,946,525 Warrants 1,238,869 1,253,387 Stock options 6,097 6,400 Total 18,151,156 4,206,312 |
Schedule of Warrant Activity [Table Text Block] | Number of Shares Weighted-Average Exercise Price Per Share Weighted- Average Remaining Contract Term Balance at December 31, 2023 1,238,869 $ 3.14 4.57 Warrants granted - Pre-funded warrants granted - Warrants exercised - Exercisable and Outstanding at March 31, 2024 1,238,869 $ 3.14 4.32 |
Warrants [Member] | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | March 2023 Conversion price before $ 6.30 Conversion price after $ 2.65 Term (years) 4.9 Volatility 123 % Dividend rate 0 % Risk free rate 4.20 % |
Note 8 - Revenue (Tables)
Note 8 - Revenue (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | 2024 2023 United States $ 2,064,000 $ 1,372,000 Singapore 56,000 404,000 Other 617,000 796,000 Total $ 2,737,000 $ 2,572,000 Three Months Ended March 31, 2024 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 1,900,000 $ 64,000 $ - $ 1,964,000 BioArchive 188,000 334,000 - 522,000 CAR-TXpress 20,000 26,000 100,000 146,000 Other 20,000 - 85,000 105,000 Total $ 2,128,000 $ 424,000 $ 185,000 $ 2,737,000 Three Months Ended March 31, 2023 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 1,484,000 $ 55,000 $ - $ 1,539,000 BioArchive 298,000 359,000 - 657,000 CAR-TXpress 35,000 40,000 71,000 146,000 Other 224,000 - 6,000 230,000 Total $ 2,041,000 $ 454,000 $ 77,000 $ 2,572,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | Remainder of 2024 2025 2026 2027 2028 and beyond Total Service revenue $ 1,060,000 $ 544,000 $ 125,000 $ - $ - $ 1,729,000 Exclusivity fee 167,000 - - - - 167,000 Other 10,000 13,000 13,000 13,000 80,000 129,000 Total $ 1,237,000 $ 557,000 $ 138,000 $ 13,000 $ 80,000 $ 2,025,000 |
Note 9 - Concentrations (Tables
Note 9 - Concentrations (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Accounts Receivable March 31, 2024 December 31, 2023 Customer 1 43% 2% Customer 2 14% 11% Customer 3 14% 1% Three Months Ended March 31, Revenues 2024 2023 Customer 1 49% 33% Customer 2 2% 16% |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies (Details Textual) - CAR-TXpress [Member] | Mar. 31, 2024 |
Subsidiary, Ownership Percentage, Noncontrolling Owner | 20% |
Subsidiary, Ownership Percentage, Parent | 80% |
Note - 4 Related Party Transa_3
Note - 4 Related Party Transactions (Details Textual) - USD ($) | 3 Months Ended | |||||||||
Mar. 15, 2024 | Jan. 05, 2024 | Mar. 31, 2024 | Mar. 31, 2023 | Jan. 31, 2024 | Dec. 31, 2023 | Mar. 15, 2023 | Jan. 31, 2023 | Jul. 23, 2019 | Mar. 31, 2017 | |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 | |||||||
Amortization of Debt Discount (Premium) | $ 1,052,000 | $ 3,472,000 | ||||||||
Interest Paid, Excluding Capitalized Interest, Operating Activities | 102,000 | 140,000 | ||||||||
The July 2019 Note [Member] | Convertible Debt [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 24% | 24% | ||||||||
Long-Term Debt, Fair Value | 7,912,000 | $ 1,239,000 | ||||||||
Debt Conversion, Converted Instrument, Amount | 603,000 | |||||||||
Debt Instrument, Convertible, Conversion Price | $ 1.07 | $ 0.79 | $ 2.87 | |||||||
Debt Instrument, Unamortized Discount | 37,000 | |||||||||
Amortization of Debt Discount (Premium) | $ 15,000 | $ 174,000 | ||||||||
Boyalife Asset Holding II [Member] | Convertible Debt [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 22% | |||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.38 | |||||||||
Debt Instrument, Unamortized Discount | $ 1,794,000 | |||||||||
Boyalife Group, Inc. [Member] | Convertible Debt [Member] | ||||||||||
Debt Conversion, Converted Instrument, Amount | $ 1,563,000 | |||||||||
Boyalife Group, Inc. [Member] | Convertible Debt [Member] | Conversion of Interest [Member] | ||||||||||
Debt Conversion, Original Debt, Amount | 285,000 | |||||||||
Boyalife Group, Inc. [Member] | December 2023 Capitalized Amount [Member] | Convertible Debt [Member] | ||||||||||
Interest Payable | $ 634,000 | |||||||||
Debt Instrument, Periodic Payment, Interest | $ 106,000 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 22% | |||||||||
Revolving Credit Facility [Member] | Convertible Debt [Member] | ||||||||||
Share Price | $ 0.45 | |||||||||
Revolving Credit Facility [Member] | Boyalife Asset Holding II [Member] | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 10,000,000 | |||||||||
Interest Payable | $ 424,000 | $ 634,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 22% | 22% | ||||||||
Debt Conversion, Original Debt, Amount | $ 1,278,000 | |||||||||
Long-Term Line of Credit | $ 6,424,000 | |||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.38 | $ 0.79 | $ 0.79 | |||||||
Common Stock, Par or Stated Value Per Share | 0.001 | |||||||||
Share Price | $ 0.45 | |||||||||
Debt Instrument, Unamortized Discount | $ 0 | $ 2,789,000 | ||||||||
Amortization of Debt Discount (Premium) | $ 995,000 | $ 3,604,000 | ||||||||
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 392,000 | $ 389,000 |
Note 4 - Related Party Transact
Note 4 - Related Party Transactions - Schedule of Related Party Transactions (Details) - Boyalife Asset Holding II [Member] - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Jan. 31, 2023 | |
Revolving Credit Facility [Member] | ||||
Maturity date | Dec. 31, 2023 | |||
Stated interest rate | 22% | 22% | ||
conversion price (in dollars per share) | $ 0.38 | $ 0.79 | $ 0.79 | |
face value | $ 7,278,000 | |||
Discount debt | 0 | $ 2,789,000 | ||
gross value | 7,278,000 | |||
December 31, 2022 | 0 | $ (2,789,000) | ||
December 31, 2022 | $ 7,278,000 | |||
Convertible Debt [Member] | ||||
Maturity date | Mar. 31, 2024 | |||
Stated interest rate | 22% | |||
conversion price (in dollars per share) | $ 0.38 | |||
face value | $ 6,000,000 | |||
Discount debt | 1,794,000 | |||
gross value | 4,206,000 | |||
December 31, 2022 | (1,794,000) | |||
December 31, 2022 | $ 4,206,000 |
Note 4 - Related Party Transa_2
Note 4 - Related Party Transactions - Fair Value Inputs (Details) | Jan. 01, 2023 |
Measurement Input, Conversion Price Before [Member] | |
Conversion price before | 0.79 |
Measurement Input, Conversion Price [Member] | |
Conversion price before | 0.38 |
Measurement Input, Expected Term [Member] | |
Conversion price before | 0.94 |
Measurement Input, Price Volatility [Member] | |
Conversion price before | 1.227 |
Measurement Input, Expected Dividend Rate [Member] | |
Conversion price before | 0 |
Measurement Input, Risk Free Interest Rate [Member] | |
Conversion price before | 0.0438 |
Note 5 - Related Party Lease (D
Note 5 - Related Party Lease (Details Textual) - Lease Agreement with Z3 Investment LLC [Member] | 3 Months Ended | ||
Mar. 24, 2022 USD ($) ft² | Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) | |
Lessee, Operating Lease, Term of Contract | 5 years | ||
Area of Real Estate Property | ft² | 35,000 | ||
Second Six Months, Rental Expense, Operating Lease | $ 108,000 | ||
Percent Increase, Annual Rental Expense | 4% | ||
Operating lease, Operating Expenses, Per Month | $ 20,000 | ||
Lessee, Operating Lease, Renewal Term | 5 years | ||
Operating Lease, Payments | $ 324,000 | $ 311,000 |
Note 5 - Related Party Lease -
Note 5 - Related Party Lease - Lease Cost (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Right-of-use operating lease assets, net | $ 50,000 | $ 122,000 |
Operating lease obligations – related party – long-term | 2,720,000 | 2,900,000 |
Lease Agreement with Z3 Investment LLC [Member] | ||
Right-of-use operating lease assets, net | 2,956,000 | 3,088,000 |
Current lease liability (included in other current liabilities) | 641,000 | 595,000 |
Operating lease obligations – related party – long-term | $ 2,720,000 | $ 2,900,000 |
Weighted average remaining lease term (Year) | 3 years 6 months | 3 years 9 months 18 days |
Discount rate | 22% | 22% |
Note 5 - Related Party Lease _2
Note 5 - Related Party Lease - Lease Liability Maturity (Details) | Mar. 31, 2024 USD ($) |
2023 (Remaining) | $ 983,000 |
2025 | 1,359,000 |
2026 | 1,428,000 |
Lessee, Operating Lease, Liability, to be Paid, Year Three | 1,133,000 |
Thereafter | 0 |
Total lease payments | 4,903,000 |
Less: imputed interest | (1,542,000) |
Present value of operating lease liabilities | $ 3,361,000 |
Note 6 - Convertible Promisso_3
Note 6 - Convertible Promissory Note (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||
Jan. 31, 2023 | Jan. 31, 2024 | Mar. 31, 2024 | Sep. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2023 | Dec. 31, 2023 | Jul. 23, 2019 | |
Amortization of Debt Discount (Premium) | $ 1,052,000 | $ 3,472,000 | ||||||
Convertible Debt [Member] | Revolving Credit Facility [Member] | ||||||||
Share Price | $ 0.45 | |||||||
The July 2019 Note [Member] | Convertible Debt [Member] | ||||||||
Debt Instrument, Face Amount | $ 397,000 | $ 1,000,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 24% | 24% | ||||||
Debt Instrument, Convertible, Conversion Price | $ 2.87 | $ 1.07 | $ 0.79 | |||||
Long-Term Debt, Fair Value | $ 1,239,000 | 7,912,000 | ||||||
Liabilities, Fair Value Adjustment | $ 239,000 | |||||||
Debt Conversion, Converted Instrument, Amount | $ 603,000 | |||||||
Debt Conversion, Converted Instrument, Shares Issued | 215,000 | |||||||
Repayments of Debt | $ 398,000 | |||||||
Debt Instrument, Unamortized Discount | $ 37,000 | |||||||
Amortization of Debt Discount (Premium) | 15,000 | 174,000 | ||||||
Interest Expense, Debt | 8,000 | $ 42,000 | ||||||
Accrued Interest Payable | $ 102,000 | |||||||
Antidilutive Triggering Event [Member] | Convertible Debt [Member] | ||||||||
Amortization of Debt Discount (Premium) | $ 72,000 | $ 41,000 |
Note 6 - Convertible Promisso_4
Note 6 - Convertible Promissory Note- Schedule of Convertible Debt (Details) - The July 2019 Note [Member] - Convertible Debt [Member] - USD ($) | 12 Months Ended | |||
Dec. 31, 2023 | Jan. 31, 2024 | Jan. 31, 2023 | Jul. 23, 2019 | |
Maturity date | Jan. 31, 2024 | |||
Stated interest rate | 24% | 24% | ||
conversion price (in dollars per share) | $ 0.79 | $ 1.07 | $ 2.87 | |
face value | $ 397,000 | $ 1,000,000 | ||
Debt Instrument, Unamortized Discount (Premium), Net | (19,000) | |||
December 31, 2022 | $ 378,000 |
Note 6 - Convertible Promisso_5
Note 6 - Convertible Promissory Note - Fair Value Inputs (Details) | Jan. 31, 2024 | Jan. 01, 2023 |
Measurement Input, Conversion Price Before [Member] | ||
Conversion price before | 0.79 | |
Measurement Input, Conversion Price [Member] | ||
Conversion price before | 0.38 | |
Measurement Input, Expected Term [Member] | ||
Conversion price before | 0.94 | |
Measurement Input, Price Volatility [Member] | ||
Conversion price before | 1.227 | |
Measurement Input, Expected Dividend Rate [Member] | ||
Conversion price before | 0 | |
Measurement Input, Risk Free Interest Rate [Member] | ||
Conversion price before | 0.0438 | |
Convertible Debt [Member] | Measurement Input, Conversion Price Before [Member] | ||
Conversion price before | 0.79 | |
Convertible Debt [Member] | Measurement Input, Conversion Price [Member] | ||
Conversion price before | 0.38 | |
Convertible Debt [Member] | Measurement Input, Expected Term [Member] | ||
Conversion price before | 0.02 | |
Convertible Debt [Member] | Measurement Input, Price Volatility [Member] | ||
Conversion price before | 0.839 | |
Convertible Debt [Member] | Measurement Input, Expected Dividend Rate [Member] | ||
Conversion price before | 0 | |
Convertible Debt [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Conversion price before | 0.0438 |
Note 7 - Stockholders' Equity_2
Note 7 - Stockholders' Equity (Details Textual) - USD ($) | 3 Months Ended | |||||
Mar. 15, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Nov. 22, 2023 | Sep. 30, 2023 | |
Sale of common stock and warrants, net (in shares) | 125,000 | |||||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 | |||
Class of Warrant or Right, Outstanding | 1,238,869 | 1,238,869 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3.14 | $ 3.14 | ||||
Warrants and Rights Outstanding, Term | 4 years 3 months 25 days | 4 years 6 months 25 days | ||||
Proceeds from Issuance or Sale of Equity | $ 2,600,000,000,000 | |||||
Payments of Stock Issuance Costs | $ 360,000,000 | |||||
Proceeds from Warrant Exercises | $ 0 | $ 421,000 | ||||
Proceeds from Issuance of Common Stock, Net | $ 99,000 | $ 2,640,000 | ||||
Warrant Amendment Agreement [Member] | ||||||
Sale of common stock and warrants, net (in shares) | 158,731 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 6.3 | $ 2.65 | ||||
Warrants Exercised | 158,731 | |||||
Proceeds from Warrant Exercises | $ 421,000 | |||||
At The Market Offering Agreement [Member] | ||||||
Sale of common stock and warrants, net (in shares) | 221,736 | |||||
Common Stock, Par or Stated Value Per Share | $ 0.001 | |||||
Maximum Offering Price for Issuance of Common Stock | $ 1,288,000 | |||||
Shares Issued, Average Price Per Share | $ 0.45 | |||||
Proceeds from Issuance of Common Stock, Net | $ 99,000 | |||||
Pre-funded Warrant [Member] | ||||||
Class of Warrant or Right, Outstanding | 946,429 | |||||
Share Price | $ 2.8 | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,071,429 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 2.65 | |||||
Warrants and Rights Outstanding, Term | 5 years 6 months | |||||
Warrants Issued in Connection with Underwritten Public Offering [Member] | ||||||
Fair Value Adjustment of Warrants | $ 50,000 |
Note 7 - Stockholders' Equity -
Note 7 - Stockholders' Equity - Fair Value Valuation (Details) | Mar. 31, 2023 |
Measurement Input, Conversion Price Before [Member] | |
Conversion price before | 6.3 |
Measurement Input, Conversion Price [Member] | |
Conversion price before | 2.65 |
Measurement Input, Expected Term [Member] | |
Conversion price before | 4.9 |
Measurement Input, Price Volatility [Member] | |
Conversion price before | 1.23 |
Measurement Input, Expected Dividend Rate [Member] | |
Conversion price before | 0 |
Measurement Input, Risk Free Interest Rate [Member] | |
Conversion price before | 0.042 |
Note 7 - Stockholders' Equity_3
Note 7 - Stockholders' Equity - Antidilutive Securities (Details) - shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Antidilutive securities (in shares) | 18,151,156 | 4,206,312 |
Convertible Debt Securities [Member] | ||
Antidilutive securities (in shares) | 16,906,190 | 2,946,525 |
Warrant [Member] | ||
Antidilutive securities (in shares) | 1,238,869 | 1,253,387 |
Share-Based Payment Arrangement, Option [Member] | ||
Antidilutive securities (in shares) | 6,097 | 6,400 |
Note 7 - Stockholders' Equity_4
Note 7 - Stockholders' Equity - Warrant Activity (Details) - $ / shares | 15 Months Ended | ||
Mar. 31, 2024 | Dec. 31, 2023 | Mar. 15, 2023 | |
Balance, term (Year) | 4 years 3 months 25 days | 4 years 6 months 25 days | |
Warrants granted, shares (in shares) | 0 | ||
Warrants expired (in shares) | 0 | ||
Exercisable and Outstanding at March 31, 2024 (in shares) | 1,238,869 | 1,238,869 | |
Exercisable and Outstanding at March 31, 2024 (in dollars per share) | $ 3.14 | $ 3.14 | |
Pre-funded Warrant [Member] | |||
Balance, term (Year) | 5 years 6 months | ||
Warrants granted, shares (in shares) | 0 | ||
Exercisable and Outstanding at March 31, 2024 (in shares) | 946,429 | ||
Exercisable and Outstanding at March 31, 2024 (in dollars per share) | $ 2.65 |
Note 8 - Revenue (Details Textu
Note 8 - Revenue (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Contract with Customer, Liability, Revenue Recognized | $ 365,000 | $ 362,000 | |
Contract with Customer, Liability, Current | 921,000 | $ 670,000 | |
Contract with Customer, Liability, Noncurrent | $ 122,000 | $ 127,000 |
Note 8 - Revenue - Disaggregati
Note 8 - Revenue - Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net revenues | $ 2,737,000 | $ 2,572,000 |
Net revenues | 2,737,000 | 2,572,000 |
Device [Member] | AXP [Member] | ||
Net revenues | 1,964,000 | 1,539,000 |
Net revenues | 1,964,000 | 1,539,000 |
Device [Member] | BioArchive [Member] | ||
Net revenues | 522,000 | 657,000 |
Net revenues | 522,000 | 657,000 |
Device [Member] | CAR-TXpress [Member] | ||
Net revenues | 146,000 | 146,000 |
Net revenues | 146,000 | 146,000 |
Device [Member] | Other Subsegments [Member] | ||
Net revenues | 105,000 | 230,000 |
Net revenues | 105,000 | 230,000 |
Device Revenue [Member] | ||
Net revenues | 2,128,000 | 2,041,000 |
Net revenues | 2,128,000 | 2,041,000 |
Device Revenue [Member] | Device [Member] | AXP [Member] | ||
Net revenues | 1,900,000 | 1,484,000 |
Net revenues | 1,900,000 | 1,484,000 |
Device Revenue [Member] | Device [Member] | BioArchive [Member] | ||
Net revenues | 188,000 | 298,000 |
Net revenues | 188,000 | 298,000 |
Device Revenue [Member] | Device [Member] | CAR-TXpress [Member] | ||
Net revenues | 20,000 | 35,000 |
Net revenues | 20,000 | 35,000 |
Device Revenue [Member] | Device [Member] | Other Subsegments [Member] | ||
Net revenues | 20,000 | 224,000 |
Net revenues | 20,000 | 224,000 |
Service [Member] | ||
Net revenues | 424,000 | 454,000 |
Net revenues | 424,000 | 454,000 |
Service [Member] | Device [Member] | AXP [Member] | ||
Net revenues | 64,000 | 55,000 |
Net revenues | 64,000 | 55,000 |
Service [Member] | Device [Member] | BioArchive [Member] | ||
Net revenues | 334,000 | 359,000 |
Net revenues | 334,000 | 359,000 |
Service [Member] | Device [Member] | CAR-TXpress [Member] | ||
Net revenues | 26,000 | 40,000 |
Net revenues | 26,000 | 40,000 |
Service [Member] | Device [Member] | Other Subsegments [Member] | ||
Net revenues | 0 | 0 |
Net revenues | 0 | 0 |
Other [Member] | ||
Net revenues | 185,000 | 77,000 |
Net revenues | 185,000 | 77,000 |
Other [Member] | Device [Member] | AXP [Member] | ||
Net revenues | 0 | 0 |
Net revenues | 0 | 0 |
Other [Member] | Device [Member] | BioArchive [Member] | ||
Net revenues | 0 | 0 |
Net revenues | 0 | 0 |
Other [Member] | Device [Member] | CAR-TXpress [Member] | ||
Net revenues | 100,000 | 71,000 |
Net revenues | 100,000 | 71,000 |
Other [Member] | Device [Member] | Other Subsegments [Member] | ||
Net revenues | 85,000 | 6,000 |
Net revenues | 85,000 | 6,000 |
UNITED STATES | ||
Net revenues | 2,064,000 | 1,372,000 |
Net revenues | 2,064,000 | 1,372,000 |
SINGAPORE | ||
Net revenues | 56,000 | 404,000 |
Net revenues | 56,000 | 404,000 |
All Other Countries [Member] | ||
Net revenues | 617,000 | 796,000 |
Net revenues | $ 617,000 | $ 796,000 |
Note 8 - Revenue - Remaining Pe
Note 8 - Revenue - Remaining Performance Obligations (Details) | Mar. 31, 2024 USD ($) |
Remaining | $ 2,025,000 |
Service [Member] | |
Remaining | 1,729,000 |
Exclusivity Fee [Member] | |
Remaining | 167,000 |
Other [Member] | |
Remaining | $ 129,000 |
Note 8 - Revenue - Remaining _2
Note 8 - Revenue - Remaining Performance Obligations 2 (Details) | Mar. 31, 2024 USD ($) |
Remaining | $ 2,025,000 |
Service [Member] | |
Remaining | 1,729,000 |
Exclusivity Fee [Member] | |
Remaining | 167,000 |
Other [Member] | |
Remaining | $ 129,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 9 months |
Remaining | $ 1,237,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01 | Service [Member] | |
Remaining | 1,060,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01 | Exclusivity Fee [Member] | |
Remaining | 167,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01 | Other [Member] | |
Remaining | $ 10,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Remaining | $ 557,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Service [Member] | |
Remaining | 544,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Exclusivity Fee [Member] | |
Remaining | 0 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Other [Member] | |
Remaining | $ 13,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Remaining | $ 138,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Service [Member] | |
Remaining | 125,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Exclusivity Fee [Member] | |
Remaining | 0 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Other [Member] | |
Remaining | $ 13,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 20271 years |
Remaining | $ 13,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | Service [Member] | |
Remaining | 0 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | Exclusivity Fee [Member] | |
Remaining | 0 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | Other [Member] | |
Remaining | $ 13,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Remaining | $ 80,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 | Service [Member] | |
Remaining | 0 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 | Exclusivity Fee [Member] | |
Remaining | 0 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 | Other [Member] | |
Remaining | $ 80,000 |
Note 9 - Concentrations - Accou
Note 9 - Concentrations - Accounts Receivables and Revenues 2 (Details) - Customer Concentration Risk [Member] | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Revenue from Contract with Customer Benchmark [Member] | Customer 1 [Member] | ||
Concentration | 49% | 33% |
Revenue from Contract with Customer Benchmark [Member] | Customer 2 [Member] | ||
Concentration | 2% | 16% |
Accounts Receivable [Member] | Customer 1 [Member] | ||
Concentration | 2% | |
Accounts Receivable [Member] | Customer 2 [Member] | ||
Concentration | 11% | |
Accounts Receivable [Member] | Customer 3 [Member] | ||
Concentration | 1% |
Note 10 - Commitments and Con_2
Note 10 - Commitments and Contingencies (Details Textual) | Jul. 13, 2020 USD ($) |
Short Term Investment Minimum | $ 1,000,000 |